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1 2 - 1 5 . Melvin Indecision has difficulty deciding whether to put his savings in Mystic Bank or Four Rivers Bank. Mystic offers
Melvin Indecision has difficulty deciding whether to put his savings in Mystic Bank or Four Rivers Bank. Mystic offers interest compounded semiannually. Four Rivers offers interest compounded quar terly. Melvin has $ to invest. He expects to withdraw the money at the end of years. Which bank gives Melvin the better deal? Check your answer. LUI
Melvin Indecision has difficulty deciding whether to put his savings in Mystic Bank or Four Rivers Bank.
Mystic offers interest compounded semiannually. Four Rivers offers interest compounded quar
terly. Melvin has $ to invest. He expects to withdraw the money at the end of years. Which bank
gives Melvin the better deal? Check your answer. LUI
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